Focus on Precious Metals, Trade Quiet, Market Waits to Hear from Bernanke
Aug Gold was last + 7.00 at 1,290.50 oz.
Spot Gold was last quoted + 8.60 at 1,292.25 oz.
Sept Comex Silver last traded + 0.116 at 19.955 oz
World market are looking ahead to Wednesday appearance by US Federal Reserve Chair Bernanke before the US House of Representatives, he will report on US monetary policy and the economy.
Traders hope the Fed Chair will offer clues on when the Fed will start to back off on its QE program. Many still believe the Fed will begin to pare in September, but last week hinted he wants QE to start to wind down later rather than sooner, as he feels the US economic recovery is fragile.
US economic data out Tuesday; consumer price index for June came in a bit higher than expected, + 0.5%, industrial production and capacity utilization was close to expectations. The data has not impacted the market or precious metals.
The London PM Gold fix is 1,291.50 Vs the prior London PM fixing at 1,284.75.
Latest posts by Paul Ebeling (see all)
- Cuba’s Agrarian Culture, The 1st Organic Revolution Is Successful - May 23, 2015
- Watchmaker Officine Panerai On Middle East Plans - May 23, 2015
- North American Wholesome Food Resources: Meats - May 23, 2015
- If GMOs Are Safe, Label Them - May 23, 2015
- F1: Monaco Grand Prix, On The Grid And Pick To Win - May 23, 2015
Trade FX, Equities and Options with the World's Leading Platform Open an account here , call us at 305 4904 116, or email us to get started.
US Stock Indexes Close Down On Light Volume Stock and ... read more
LME Base Metals Finished Lower Friday The base metals prices ... read more
F1: Monaco Grand Prix, On The Grid And Pick To ... read more